I understand that you might be wondering why I chose those particular cryptocurrencies for 2018. This article will give you some insight into why I chose them. There are of course other factors involved but below is a short explanation.
I considered that Ethereum might have some competition with Neo, another platform that performs similar functions, but the reason I think they'll do well is that they were the first in the space like Bitcoin was in its niche. I think that Ethereum is also doing a much better job of marketing itself to companies and that's given it a significant advantage. Just like most recognize Bitcoin as the number 1 cryptocurrency, Ethereum has that branding power as an ICO. I don't expect it to see massive returns for it this year, but I'm thinking that it will stabilize around $2,000-$3,500 by the end of the year. It's a safe bet for those looking for a less risky investment, as Ethereum is looking to have real world application and thus has more of a utility value than ordinary cryptocurrencies. While it won't give the returns on Bitcoin, a return of 2x to 3x return is still worth looking into. Its upgrades are launching soon, as well as other significant research being done into sharding, which should see the price move upwards in a reasonable manner.
Regarding OmiseGO, it's built on the Ethereum platform and their project is unbelievably ambitious.
They're a Japanese company that have started up not too long after the Ethereum platform launched, I'd strongly suggest you check them out. They'll be switching to POS (proof of stake) soon so you'll be able to make some passive income from them if you own a reasonable amount of tokens just by holding them.
Ripple I mentioned because it's tied to banks, it's also a fairly reliable investment because banks want to make money. If they're aligning themselves with Ripple and its technology then they're going to want to ensure that it is profitable. I know that the purpose of decentralization is what the crypto movement is all about but my blog is mainly to give advice on things that have the potential to yield decent returns. Ripple is a good investment even if I'm not overly sold on their model.
Their company has made tremendous strides partnering with some major players. Banks will have to integrate this technology into their systems eventually since there is a huge movement away from traditional banking due to blockchain technology. The majority of people are still going to trust banks and I think that a kind of hybridized system will emerge in a few years where banks employ this technology along with some other protocols to integrate themselves into our lives, providing us with less intrusive and oppressing options which I think a lot of people might consider due to the ease of access and resources that banks have. They have huge sums of money and they're not going to want to give it up easily.
I think that Bitcoin (BTC) will do well for number of years. I'll give it a decent time frame since it's got the branding power of being first in the crypto space. If there comes a point in time where it becomes adopted by us as a society then I'm quite sure that other crypto will have surfaced to provide us with similar functions too and it's dominance could be diluted but I think that is a far way off into the future so BTC is definitely worth holding long term.
If you'd like to find out more about OmiseGO you can take a look at their whitepaper on this site:
https://omisego.network/
Other cryptocurrencies that I have my eye on this year are:
- Litecoin
- Stellar Lumens
- Dash
- Funfair- This is a higher risk cryptocurrency that I have invested in. I am not advocating that you invest in this without doing research into what it offers first. Please only consider the choices that I have listed in the previous article for investment.